Allstate Corp Takes $1.92 Million Position in Air Products and Chemicals, Inc. (NYSE:APD)

Allstate Corp bought a new position in shares of Air Products and Chemicals, Inc. (NYSE:APD) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 6,608 shares of the basic materials company’s stock, valued at approximately $1,917,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APD. SG Americas Securities LLC raised its holdings in shares of Air Products and Chemicals by 106.3% in the 4th quarter. SG Americas Securities LLC now owns 13,494 shares of the basic materials company’s stock valued at $3,914,000 after purchasing an additional 6,952 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Air Products and Chemicals by 59.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock worth $111,488,000 after buying an additional 139,223 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in Air Products and Chemicals in the fourth quarter valued at approximately $7,269,000. Diversify Wealth Management LLC lifted its position in shares of Air Products and Chemicals by 88.2% in the fourth quarter. Diversify Wealth Management LLC now owns 10,490 shares of the basic materials company’s stock valued at $3,074,000 after buying an additional 4,916 shares during the last quarter. Finally, World Investment Advisors LLC boosted its stake in shares of Air Products and Chemicals by 1,205.1% during the 3rd quarter. World Investment Advisors LLC now owns 38,423 shares of the basic materials company’s stock worth $11,440,000 after acquiring an additional 35,479 shares during the period. 81.66% of the stock is owned by institutional investors.

Air Products and Chemicals Trading Down 0.9 %

Shares of Air Products and Chemicals stock opened at $292.34 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. Air Products and Chemicals, Inc. has a 12-month low of $227.53 and a 12-month high of $341.14. The company has a market capitalization of $65.04 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 3.07 and a beta of 0.85. The firm’s 50-day moving average price is $311.68 and its two-hundred day moving average price is $309.19.

Air Products and Chemicals (NYSE:APD) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.27). Air Products and Chemicals had a return on equity of 15.78% and a net margin of 31.88%. On average, analysts forecast that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be given a dividend of $1.79 per share. This is an increase from Air Products and Chemicals’s previous quarterly dividend of $1.77. This represents a $7.16 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Tuesday, April 1st. Air Products and Chemicals’s dividend payout ratio is currently 41.58%.

Insider Activity at Air Products and Chemicals

In related news, CFO Melissa N. Schaeffer sold 3,233 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $307.32, for a total value of $993,565.56. Following the completion of the transaction, the chief financial officer now owns 10,680 shares of the company’s stock, valued at $3,282,177.60. This represents a 23.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Sean D. Major sold 4,500 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the sale, the vice president now directly owns 14,273 shares in the company, valued at approximately $4,502,560.58. The trade was a 23.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock valued at $4,842,604 over the last ninety days. 0.41% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on APD shares. UBS Group cut their price target on Air Products and Chemicals from $395.00 to $370.00 and set a “buy” rating for the company in a report on Friday, March 14th. Citigroup cut their target price on shares of Air Products and Chemicals from $373.00 to $345.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Bank of America lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target on the stock. in a research note on Monday, January 27th. Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $315.00 to $365.00 in a research report on Friday, January 24th. Finally, BNP Paribas raised Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Air Products and Chemicals presently has an average rating of “Moderate Buy” and a consensus target price of $341.47.

Air Products and Chemicals Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.